topic My 1099-B has a section "Federal / State Taxes Withheld", but I don't see this section option in TurboTax. No other boxes filled for that sections. How do I enter this? in Get your taxes done using TurboTax

My 1099-B has a section "Federal / State Taxes Withheld", but I don't see this section option in TurboTax. No other boxes filled for that sections. How do I enter this?

alankoo — Tue, 16 Mar 2021 04:17:46 GMT

Tax withheld is not included in the other section I have for the "Covered Short-Term Gains or Losses on Gross Proceeds" because there is not one to one relation (one tx withheld is related to more than one sale).

Re: My 1099-B has a section "Federal / State Taxes Withheld", but I don't see this section option in TurboTax. No other boxes filled for that sections. How do I enter this?

Mike9241 — Tue, 16 Mar 2021 05:29:11 GMT

type tax payments in form search box then jump to it. on one of the lines there is a place to enter federal and state withholding form 1099-B. you only need to enter totals

Re: My 1099-B has a section "Federal / State Taxes Withheld", but I don't see this section option in TurboTax. No other boxes filled for that sections. How do I enter this?

alankoo — Tue, 16 Mar 2021 13:42:05 GMT

Hi @Mike9241, I know where the input box are, the thing is that based on my 1099-B, I should report these entries in a separate section for tax withholds (Federal / State Taxes Withheld), not inline as part of with my sells (Covered Short-Term Gains or Losses on Gross Proceeds).

Event if I want to report inline, I cannot the one to one mapping from the withholds vs the sells, so my option could be to report these in separate lines under "Covered Short-Term Gains..."), but validation fails because those lines don't have a Cost Basis entry (box 1e):

Check the example below (notice that only 1c, Box 4 and Box 16 have some data):

Thanks!